The best bank for international businesses should let you send payments overseas to numerous countries in multiple currencies for a reasonable fee. They should support your business when conducting business or traveling abroad. Some of them will also allow you to send currencies in as little as one business day, while others will open foreign accounts in local currencies to save you time and money when conducting international business.
Here are the eight best banks for international business, with links directly to the provider websites:
- Bank of America
Member Federal Deposit Insurance Corp. (FDIC)
Best overall for overseas payments and international currency orders - Bluevine
Provider is a financial technology (fintech) platform backed by and FDIC-insured through a supporting bank partnership with Coastal Community Bank.
: Best business checking account for earning interest with no monthly fees - Chase
Member FDIC
: Best for small business banking tools and premium checking - Novo
Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Middlesex Federal Savings.
: Best digital-only bank for international ATM fee refunds and rapid access to funds - Relay
Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Thread Bank.
: Best for businesses needing multiple accounts and debit cards - Wise
Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with JP Morgan Chase. Funds held outside of the United States may not necessarily be insured against loss. See the provider’s website for more information.
: Best low-cost international transfers via local accounts - Revolut
Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Community Federal Savings Bank (CFSB) and Sutton Bank, Members FDIC.
: Best for spending funds in multiple currencies - Rho
Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Webster Bank.
: Best flat-rate pricing for foreign exchange transfers
The available countries for international payments can change because of business or geopolitical policy changes. Always check with the provider directly to see if it allows you to send payments to your needed destination.
Best Banks for International Business at a Glance
Bank of America: Best Overall for Overseas Payments & International Currency Orders
What We Like
- Sends payments to 233 countries in 150 currencies
- Can ship foreign currencies ordered by 2 p.m. local on the same day
- Allows 200 free transactions per month
Drawbacks
- Charges cash deposit fees per $100 over monthly allowance
- Doesn’t offer ATM fee reimbursements
- Requires a $100 opening deposit
Features
- Ability to deposit checks, view accounts, make transfers, and pay bills with the mobile app
- Credit card processing and payroll services through ADP
- Cash Flow Monitor®, a cash management tool, that lets you connect accounting, analytics, and payroll apps to help you make business decisions
- Option for you to check your business credit score through a partnership with Dun & Bradstreet (see our guide on the Dun & Bradstreet Credit Report to learn more)
- Integrations with QuickBooks, TurboTax, and Zelle
- Customer service during business hours in branch and via phone or social media messages
- Other products such as business savings, merchant services, certificates of deposit (CDs), lending products, and financial analysis through Merrill financial advisor
Bank of America allows you to send payments to 233 countries in 150 currencies. For complete details on sending funds, see Bank of America’s International Wire Information, and search for the country where you plan to send money.
In addition, you can order foreign currency directly from the bank. If the order is placed by 2 p.m. local time, it will ship the same day. Fees and details are as follows:
- Standard delivery (one to three business days Allow 2 to 3 additional business days for orders shipped to Alaska or Hawaii. ): $7.50 (standard delivery is free for orders $1,000 and up)
- Overnight delivery Overnight shipping to Hawaii and Alaska cannot be guaranteed. (order by 2 p.m.): $20
- Because it does not stock inventories of foreign currency at financial centers, delivery charges apply to orders picked up at a financial center as well as to orders—under $1,000 United States dollars (USD)—sent to your account address.
Your order must be picked up at a financial center for the following cases:
- It is more than $1,000 USD.
- You are a new customer (less than 30 days).
- Your address changed in the last 30 days.
When to Choose Bank of America
- You need to send payments around the world in multiple currencies: With the ability to send payments to more than 230 countries in 150 currencies, Bank of America is our choice for the best bank for international businesses. If you order foreign currency from the bank before 2 p.m. local time, it will ship the same day. Overnight deliveries cost $20, while standard delivery is $7.50 with currency delivered in one to three business days Allow 2 to 3 additional business days for orders shipped to Alaska or Hawaii. .
- You want a business bank account with outstanding ongoing rewards: With its Preferred Rewards for Business program, you can earn 25% to 75% bonus rewards on credit cards and get up to 20% rate boosts on business savings accounts. Bank of America also offers sign-up bonuses ranging from $100 to $500 if qualifications are met. For specific qualifications, see our guide to the best business bank account promos.
- For businesses that might need to access funds via an ATM during overseas travel: Bank of America’s partner banks will allow you to avoid the $5 out-of-network international ATM fee. It’s one of the reasons why Bank of America is one of our best small business checking accounts.
Bluevine: Best Business Checking Account for Earning Interest With No Monthly Fees
What We Like
- Offers interest-earning checking on balances up to $250,000
- Can send payments to 32 countries in 15 currencies
- Has an excellent line of credit product
- Has unlimited 1.5% cash back on business Mastercard
Drawbacks
- Lacks savings, money market, and CD accounts
- Lacks physical branch locations
- Requires fee for depositing cash
Features
- No monthly maintenance fee
- No minimum balance requirement
- Free debit card and two free checkbook orders per year
- Integration with QuickBooks, Wave, and Xero
- Ability to connect with business payment solutions, including Wise, Venmo, Expensify, Cash App, and Square
- Up to five subaccounts and shared account access
- Reduced standard payment fees for premium plans
- Live customer support from dedicated professionals
- Line of credit and credit card product offered
When to Choose Bluevine
- You want an online interest-earning business checking account with international payment support: With interest-bearing checking and the ability for customers to send international payments, Bluevine is a great choice for international business customers. You can earn 2.0% APY with Bluevine Standard checking on qualifying deposits. In addition, Bluevine allows you to directly send international business payments to 32 countries in 15 currencies from your Bluevine dashboard.
- You need those international payments received in as little as 24 hours: Payments are sent out between 8 a.m. and 5 p.m. Eastern time and can be received in as fast as 24 hours. Payments sent in USD cost $25 per payment, while payments sent in other currencies cost $25 plus 1.5% of the payment amount.
- You want the option of a premium account with higher interest earning: The Bluevine Premier checking account offers a 4.25% APY on balances up to $3 million. Its monthly fee of $95 can be waived by having a minimum balance of $100,000 and spending $5,000 via your Bluevine debit card or credit card. Premier account status also provides reduced fees for same-day ACH and domestic and international wire transfers.
Chase: Best for Small Business Banking Tools & Premium Checking
What We Like
- Can send payments to over 160 countries in more than 120 currencies
- Requires no fee on consumer online foreign currency international wire of greater than $5,000 USD
- Offers up to $500 welcome bonus for new accounts
Drawbacks
- Has limited number of free transactions
- Does not reimburse ATM fees
- Requires much higher fees for some wires; may not have favorable exchange rate on free wires
Features
- Ability to manage debit, deposit, and ATM card settings for individual employees
- Ability to deposit checks, view account balances, pay bills, and make transfers through the mobile app
- Integration with QuickBooks and other leading accounting software
- Built-in card acceptance with QuickAcceptSM via the Chase Mobile® app
- Free debit card, mailed within 10 business days of application approval
- Chase Payment Solutions
- Live customer support online or in branch during business hours
- Other products such as business savings, CDs, lending products, credit cards, merchant services, and collection services
Chase, through JP Morgan, allows you to send payments to more than 160 countries in over 120 currencies. For complete details on sending funds, see JP Morgan’s Global Payments Guide, and search for the country where you plan to send money.
- Online wires sent to a bank outside the US in foreign currency have no Chase wire fee for amounts of $5,000 USD or more, only a $5 Chase wire fee for amounts below $5,000 USD.
- Wire funds on the go using the Chase Mobile® app or chase.com.
- Send from your Chase checking account.
- Access up to 13 months of outgoing wire transfer history.
- Save details of frequent payees for future transfers.
- Send transfer requests anytime.
- Transfer requests that are initiated by 4:00 p.m. Eastern time for Personal accounts and 5:00 p.m. ET for Business accounts begin processing the same business day.
When to Choose Chase
- You need to send international payments to more than 160 countries: Chase is another great option for international business thanks to the ability to send money to over 160 countries in more than 120 currencies. Chase offers slightly fewer options than Bank of America, which is why Bank of America edges Chase for international businesses.
- You want free online wires for transactions over $5,000: Chase online wires sent to a bank outside the US in a foreign currency have no Chase wire fees for amounts of $5,000 or more. If the amount of the wire is less than $5,000, a $5 Chase fee applies. Traditional wires are more expensive, so consider an online wire when sending money overseas.
- You want three great business checking options: The bank has three excellent business checking products, all with a waivable monthly fee if specific criteria are met: Business Complete Banking, Performance Business Checking, and Platinum Business Checking. You can read our comparison of Chase’s business checking accounts to see which best suits your needs.
If you receive incoming wires locally and internationally regularly, consider opening Chase’s highest-tier account, Chase Platinum Business Checking. It offers free inbound domestic and international wire transfers and also lets you send four free outgoing domestic wires each month. Read our review of Chase Platinum Business Checking for details.
Novo: Best Digital-only Bank for International ATM Fee Refunds & Rapid Access to Funds
What We Like
- Has zero maintenance fees
- Refunds up to $7 in ATM fees monthly, both domestic and international
- Allows faster access to your funds via Novo Boost and Express ACH
Drawbacks
- Can not deposit cash directly
- Doesn’t earn interest through the Checking account
- Has conflicting information about how many countries and currencies are available for international payments
Features
- Integration with other business tools, such as QuickBooks, Slack, Xero, Stripe, Square, PayPal, Wise, and Shopify
- Ability to set aside funds for taxes and other large business expenses with Novo Reserves
- Ability to deposit checks directly through the mobile app
- Online banking that includes unlimited invoicing and bill pay
- Faster access to funds via Novo Boost in coordination with Stripe
- Ability to accept or receive same-day ACH payments through Express ACH
- Virtual debit card available immediately, one free physical debit card per user
- Ability to send paper checks straight from the app
- Live customer support from dedicated professionals
- Merchant cash advance through Novo Funding
Novo partnered with Wise for international wire transfers. See our section on Wise for details.
In addition, Novo refunds up to $7 in ATM fees each month, including international ATM fees.
When to Choose Novo
- You withdraw funds from ATMs frequently, including internationally: While Novo’s biggest selling point is the ability to send and receive payments faster than most providers, a bonus of the digital-only neobank is ATM fee reimbursement. It refunds up to $7 monthly, including international ATM fees. This helps you save when you withdraw funds abroad. It is one of the reasons why Novo is in our roundup of the best business bank accounts for sole proprietors.
- You need to send international payments: For businesses sending international wires, Novo partners with Wise for low-fee transfers overseas. You can read more about Wise in its section, which comes later in this buyer’s guide. Novo claims that you can send money to over 150 countries in 50 currencies. However, Wise allows its customers to send payments to 80 countries, so this may be the same for Novo.
- You want to send and receive funds faster than with other providers: Novo is part of our list of the best online business banks for its two outstanding services that help you get paid and make payments faster. Novo Boost lets you accept payments from popular online payment processors and receive payments faster than other fintechs on this list, while Novo’s Express ACH enables you to accept or send same-day ACH payments.
Relay: Best for Businesses Needing Multiple Accounts & Debit Cards
What We Like
- Has no minimum balance or opening deposit required
- Offers very inexpensive wire transfers that are free with Relay Pro
- Has no ATM fees charged by Relay, although third-party fees may apply out of network
Drawbacks
- Lacks physical locations
- Lacks interest-bearing checking
- Lacks lending products
Features
- Fee-free online banking and money management platform
- Ability to open up to 20 individual business checking accounts
- Ability to issue up to 50 Visa debit cards
- Savings accounts with APY of 1% to 3%
- Cash deposits free at Allpoint+ ATMs
- Deposit cash at over 90,000 Green Dot retail locations (fee applies)
- Ability to send and receive ACH transfers, checks, and wires
- Ability to collect payments from PayPal, Stripe, Square, and more
- Accounting software integrations with QuickBooks, Xero, and Plaid
- Ability to send checks on users’ behalf for free; third-party checks unavailable
- Relay Pro account available, which offers same-day ACH delivery, free wire transfers, and accounts payable support
When to Choose Relay
- You need to send international wires and seek transparency about what countries are available: Relay offers you the ability to send funds in 32 currencies to more than 180 countries overseas. It also keeps an updated list of countries where you cannot send wires, which is linked in our rubric box above.
- You want to upgrade to a premium service for free international wires: Relay Pro starts at $30 a month. However, if you often send international wires, it may be worth it. Relay normally charges $10 per outgoing international wires, but those are free with Relay Pro. In addition, it provides faster ACH transfers, autoimported bills from QuickBooks Online or Xero, and other advanced payment dashboard features.
- You seek free checking with multiple accounts and debit cards: Thanks to no monthly account fees, up to 20 checking accounts, and 50 Mastercard debit cards, Relay is a great choice for companies looking to categorize their funds in multiple accounts and track company spending easily. Relay Standard is free with no minimum balance, opening deposit, and overdraft or bounced check fees.
Note: Relay is a fintech company, not an FDIC-insured bank. Banking services and FDIC insurance are provided through Thread Bank; Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.
Wise: Best Low-cost International Transfers Via Local Accounts
What We Like
- Can hold and convert money in 51 different currencies
- Can send money to up to 80 countries
- Has interest-earning account for US-based businesses
Drawbacks
- Costs $31 to open an account
- Requires ATM fees after $100 or 2 transactions in a month
- May not insure funds outside of US, UK, and EEA accounts
Features
- Wise debit card that allows you access to more than 50 currencies in more than 170 countries with no foreign transaction fees
- Integrations with Xero, QuickBooks, Sage, FreshBooks, Wave, Oracle NetSuite, and more
- Ability to use Bespoke to set access and permissions to account
- Ability to send money to up to 80 countries
- Ability to hold and convert money in 51 different currencies
- Interest-earning account available with solid APY for US-based businesses
When to Choose Wise
- You need to send, receive, and hold international payments: Wise uses the real exchange rate when you either send or receive international payments, which is why it is an excellent choice for businesses wanting to send international payments. It also supports other online-only banks, like Novo, with their overseas transactions and allows you to access funds in over 170 countries in more than 50 local currencies with no foreign transaction fees. You can send funds to 80 countries and hold money in 51 currencies.
- You want to add money to your account in multiple currencies: You can add money to your Wise account in up to 23 currencies, although some of those currencies are limited to foreign-organized businesses. By setting up local account details Wise is temporarily pausing issuing new USD account details. If you already have USD account details, they’ll work as normal. in any one of nine currencies The nine currencies are AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, and TRY. , overseas customers can pay you as if your account was held in a bank local to them. You can receive nonwire money for free in those nine currencies.
- You want to earn interest from your account: You can opt to earn interest from your USD, GBP, and EUR balances, which will be held by Wise’s partner bank, JP Morgan Chase Bank.
If you check Wise’s calculator on its website, you’ll be able to estimate the cost of sending money in both different currencies (exchange) and the same currency. Wise offers some of the lowest-cost international transfers of any provider.
Revolut: Best for Spending Funds in Multiple Currencies
What We Like
- Can hold and exchange 25-plus currencies
- Can spend in up to 150 local currencies
- Has multiple tiers to fit your business needs
Drawbacks
- May not insure funds held outside of US-based account
- Only offers some features in paid plans
- Only offers customer support through online chat
Features
- Up to three physical and 200 virtual cards; first plastic card ships free; delivery fees for each additional card apply
- Four different company accounts and three freelancer accounts
- Local accounts opened up in USD, EUR, and GBP
- Ability to create multiple accounts in over 25 currencies to hold, exchange, and transfer money
- Integration with Xero and QuickBooks
- Business online and mobile banking app
- 24/7 live in-app chat support
- Perks for paid plans include metal cards and better exchange rates
- Cash deposits accepted at Green Dot retail locations
When to Choose Revolut
- You need multiple currency accounts: Revolut is a very solid choice for businesses needing to send payments internationally in multiple currencies. When you open an account, you receive three local accounts: USD, GBP, and EUR. Those allow you to send payments locally in those currencies. In addition, you can exchange over 25 currencies with Revolut and spend 150 currencies locally out of your accounts.
- You seek multiple account options: There are seven different accounts with Revolut, including four business accounts The Basic Plan is free, Grow costs $30 monthly, Scale costs $119 monthly, and Enterprise has a custom price. (Basic, Grow, Scale, and Enterprise) and three freelancer accounts The Basic Plan is free, Pro costs $9.99 monthly, and Ultimate costs $39.99. (Basic, Pro, and Ultimate). The free business account has no opening deposit or minimum balance requirements, but some of the high fee-free allowances and best features are only available in the paid business accounts.
- You want to use free transfers to keep funds insured: One major potential drawback of Revolut is that funds held overseas may not be insured if the local accounts fail. Since transfers between Revolut accounts are free, it’s best to keep funds in your US-based account, which is backed by FDIC-insured banks.
As of Oct. 3, 2023, US customers will no longer be allowed to buy, sell, or hold cryptocurrency with Revolut. However, overseas customers can continue to use Revolut for those purposes. In addition, Revolut still offers business accounts domestically, just without the ability to buy, sell, or hold crypto. See Revolut’s website for more information.
Rho: Best Flat-rate Pricing for Foreign Exchange Transfers
What We Like
- Has no monthly fee and FX transfers at a flat 1% for 32 currencies
- Offers fee-free domestic and international SWIFT wires, ACH, and bill pay
- Offers up to 1.25% cash back on corporate cards
Drawbacks
- Lacks APY for checking product
- Lacks business debit card
- Lacks direct cash deposits
Features
- Customizable account permissions
- Integration with Oracle NetSuite, QuickBooks, and Sage Intacct
- Streamlined accounts payable
- Cost-saving global payments
- Discounts on business software, such as Google Cloud, QuickBooks, Slack, Salesforce, and Stripe
- Free and unlimited virtual and physical corporate cards for employees
- Business account open to all US incorporated businesses, except sole proprietors
- Business savings accountsⓘ with up to $75M in FDIC insurance
- High-yield Treasury account
- Daily customer service through chat and phone support
When to Choose Rho
- You seek flat rates on international payments: You can send unlimited SWIFT wires to over 200 countries with a flat FX rate of just 1% across 32 currencies, the best rate in this buyer’s guide. While Rho doesn’t charge for international wires, there may be fees involved with using the SWIFT network in addition to intermediary and receiving bank fees—but those fees will be consistent with any international provider you use.
- Your business is incorporated in the US: Rho is a great option for international business, save for sole proprietorships and unincorporated businesses. Small companies, startups, middle-market companies, and enterprises across industries can open an account.
- You want free domestic wires and ACH payments: For companies that can meet Rho’s requirements, you get the benefit of free domestic wires and ACH payments.
How We Evaluated the Best International Business Bank Accounts
We considered hundreds of domestic and international bank and neobank products when compiling this buyer’s guide. When we evaluated the best international business bank accounts, we considered the following:
- Number of countries and currencies funds that could be sent in a wire or transfer
- Fees for international wires and transfers
- Fees for currency exchange and purchase
- International in-network ATM availability and fees
- International acceptance for a domestic bank account
- Multicurrency options
- Which accounts had no monthly fees or easily waivable monthly fees
- Required opening deposit and balance minimums
- Transaction limits before fees
- Cash deposit fees and availability
- Interest yield, if applicable
- Other checking account perks
- Software integrations
- Other business services provided
- Lending products provided
- Customer service
- Customer reviews
What to Know About Doing Business Internationally
In addition to finding the right bank account for international business, there are some other things you may want to consider if you plan on having customers overseas. Here are some guides compiled by other experts here at Fit Small Business that can help your company thrive in business abroad.
What You Need to Open a Business Bank Account
Though each provider on this list may require different documents to open a business bank account, here is a general list of what you will need the following:
- EIN or Social Security number if you’re a sole proprietor
- Fictitious business name certificate or doing-business-as (DBA) certificate
- Business formation documents
- Organization documents, including your ownership agreements
- Business licenses
- Government-issued photo ID, such as a passport or driver’s license
Additional documentation may be required for international businesses looking to open an account in the US or for US-based businesses looking to do business overseas. For a downloadable checklist of documents banks typically require, see our guide on how to open a business bank account.
Frequently Asked Questions (FAQs)
We named Bank of America the best bank for international banking because it offers the ability to make payments to over 230 countries in 150 currencies. It provides an excellent basic business checking account with a $200 fee-free transaction limit and a generous $7,500 free cash deposit allowance per month.
If your company plans to do business overseas, your bank must be able to support you by letting you send and receive payments from international customers, contractors, and employees.
Most large, traditional banks offer international accounts, including Bank of America and Chase from our list. In addition, many fintechs, like Wise and Revolut, provide international accounts. Others may let you conduct business abroad from traditional business bank accounts without explicitly calling them international accounts.
Bottom Line
If your business is global, your business bank account needs to be able to support the demands of international banking. The providers on this list offer international transfers to and from customers, clients, and employees outside the US. Each offers different lists of countries and currencies, different products and services, and varying fees for those services. Compare each provider and choose the one that best aligns with the international business needs of your company.